Entrepreneur Works With Paintsville, Kentucky Bank to Get an SBA Loan

Thinking about meeting with a Paintsville, Kentucky bank about an SBA loan? Here's one Kentucky business loan, issued by a Paintsville bank, that was approved by the SBA.

Applying for an SBA loan with Citizens National Bank - Paintsville worked out well for our friends at one local company in Paintsville, Kentucky. The business was able to get an SBA loan for $33,000. Nice!

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
PAINTSVILLE, KY 41240

SBA Loan Lender

CITIZENS NATIONAL BANK - PAINTSVILLE
620 BROADWAY
PAINTSVILLE, KY 41240

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

1/3/2000

Loan Approval Gross Amount

$33,000

Loan Approval from the SBA

Of the total $33,000 loan amount, the SBA guaranteed $26,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Citizens National Bank - Paintsville so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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